India and Australia during the second India-Australia Virtual Summit on Monday announced signing of MoUs and expressed desire to work together to ensure a free and peaceful Indo-Pacific. Prime Minister Narendra Modi and Australian Prime Minister Scott Morrison signed an MoU strengthening cooperation in the critical mining sector.
Foreign secretary Harsh Shringla said that the MoU was signed by Khanij Bidesh India Ltd and Australia’s Critical Minerals Facilitation Office who will work together to establish a framework for building partnerships in critical minerals investment. Both leaders were also eager to expand the scope of the bilateral relations through comprehensive strategic partnership.
The Ukraine issue and China also featured in the discussion between both leaders. Chinese aggression in the South China Sea and the Indo-Pacific region has troubled Quad partners Japan and Australia. Relations with neighbour India are also at a low point following Chinese aggression in the eastern Ladakh region.
Morrison highlighted that the actions in South China Sea are of concern to Australia while PM Narendra Modi also outlined that peace in the Ladakh region on the Line Of Actual Control (LAC) was affected due to Chinese aggression.
Prime Minister Narendra Modi made it clear that relations with China would only become normal if the situation on the LAC is peaceful and tranquil.
PM Modi and Scott Morrison also discussed the Ukraine issue.
The issue of unrest in Myanmar also featured during the discussions. Both leaders agreed to supporting the ASEAN initiative in Myanmar and agreed that international humanitarian assistance should also focus on helping the people of Myanmar.
Both nations also signed a letter of intent where they would work together to collaborate on issues related to mobility and migration. Cooperation between India and Australia to work together on India’s National Investment and Infrastructure Fund and Australia’s Pension and Sovereign Fund were also discussed.
“India will offer the same tax benefits for Australia’s Pension and Sovereign Fund in India as is given in Australia. We’re willing to match the tax benefits that Australia gives to its Sovereign & Pension Funds. Once they invest in India,they’ll get similar benefits,” Shringla said in a press conference following the meeting between both leaders.
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